Uptown Blvd FL Partners LLC Acquires Multifamily Property In Altamonte Springs For $114.7M
SOLD
$114,700,000
Florida
See Similar DealsMultiFamily
Sold 07/26/2022
SOLD
Uptown Blvd FL Partners LLC Acquires Multifamily Property In Altamonte Springs For $114.7M
285 Uptown Boulevard, Altamonte Springs, Florida 32701, United States
See Similar DealsMultiFamily
Sold 07/26/2022
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale
Uptown Blvd FL Partners LLC has acquired a multifamily property located at 285 Uptown Blvd in Altamonte Springs. The transaction, facilitated by broker Jubeen Vaghefi of Cushman & Wakefield, closed on 07/26/2022. The property consists of 324 units, with a sale price of $114,700,000, resulting in a price per unit of $354,012.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $114,700,000
- Address: 285 Uptown Blvd
- Market: Altamonte Springs
Jubeen Vaghefi of Cushman & Wakefield represented the buyer, Uptown Blvd FL Partners LLC, in this transaction. The seller, Altamonte Associates LLC, completed the deal with the assistance of Jubeen Vaghefi as well.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$6,117,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$407,504.88
Cash-on-Cash Return-1.27%
Monthly Debt Service$543,736.52
Annual Debt Service$6,524,838.21
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